Written on: September 22, 2020 by ICM
Brideau Oil Corp. has acquired the heating oil, diesel and bulk gasoline delivery businesses of Montuori Oil Delivery, Inc., and related entities. Both family-owned businesses are located in Fitchburg, MA. Terms of the transaction, which closed Sept. 10, were not disclosed.
Montuori Oil was founded in 1926 and delivers heating oil and diesel to residential and light commercial customers in northern Worcester and Middlesex Counties in Massachusetts, and Hillsborough and Cheshire Counties in New Hampshire under the brand name Montuori Fuel. Brideau Energy, founded in 1987, is a full-service provider of heating fuels, propane, plumbing, and HVAC services to residential customers throughout north-central Massachusetts and southern New Hampshire.
“It’s hard to believe that it has been 94 years since my father, Rigo, started what would become Montuori Oil,” said Michael Montuori, owner and President of Montuori Oil. “I began working for him during high school, so I’ve been at this for quite a long time. I faced a decision – really not if to sell, but when to sell and to whom. Selling to Mark Brideau was the perfect fit, as we service customers in the same area, and both companies share the same family business values, with an emphasis on putting the customer first and treating our employees fairly.”
“We’ve known Mike as a respected competitor for many years,” said Mark Brideau, President of Brideau Energy. “We knew he ran a solid delivery operation and treated his employees and customers very well, so we were very excited when we received an invitation to submit an offer for his business. Mike and his team of advisors really helped create a very `boring‘ transaction process, which I mean as a compliment. We look forward to welcoming Montuori Oil’s team of employees and being able to offer Montuori Oil’s customers our propane, plumbing and HVAC services.”
Cetane Associates served as the sole arranger and financial advisor to Montuori Oil.